Basically, you just need to put your money into a decently performing fund (whether dividend yield or not), and get either the fund-declared dividends or withdraw whatever amount you want regularly / irregularly as per your need.

You goals seem pretty vague to me. If you want secondary income just to pay utility bills I think it could prove costly in the long run. Cut down your expenses as much as you can, use to primary income to first pay yourself that is fund your retirement then other long term and short term goals that you may.
After this if you have any money left you can think about passive income generation.
you will lose the power of compounding if you dont do this.

Of course if you are investing enough for all your goals doing the above or even now best to use any lumpsum you receive like bonuses for this passive income

“a person might not then venture into Equities with that Lumpsum instead he tries to ge money through FD’s or some DEBT instruments.”
Again this is vague. A small portion of equity investing with a lumpsum is mandatory for financial independence in retirement to fight inflation.
All other goals once lumpsum is obtained it will get spent in one shot. so what you say is not relevant

Thanks FFC for your reply.
Idea of building a corpus first and then thrive to accumulate wealth using that might seem interesting and tempting as well…. but i somehow feel a person might not then venture into Equities with that Lumpsum instead he tries to ge money through FD’s or some DEBT instruments.
In my case, i might as well get a second income as well my investment does grow with equities…
I assumed a time horizon of 7-9 yrs.
With secondary imcome supporting my small payments (utility bills) and the final corpus helping me to plan for a new vehicle.

as a non-reliable and variable second source of income yes. Will it be profitable depends on your definition of profit. Why you need it? How much you need, Is this second source so important that you are forgoing the power of compounding.

Having passive income is a great idea. However it would be prudent to invest first gain a sizeable corpus and then use it to generate sources of income from various instruments.

Since you are saying it will not be substantial why not invest let it compound build a corpus and the think about passive income?